Topic: Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th) - page 6. (Read 1224 times)

24+ hours and price is $10200+, -$2000 in next 24 hours? It may happen, but this speculation does not make sense to me and I give it less then 10% to be correct.

No one noticed that the OP even set the wrong date 08.24.19 ( posted on 27.08.2019), so if we take that as a reference it's already completely missed speculation. Realistically, something like this has no significant impact on the market, it can only confuse some inexperienced users, so it is better to not post speculations based only on some personal feeling.

You cannot really read charts if you are not a trader. I mean, how can you predict about something you don't have knowledge about? Seeing it and being in it are 2 different things and I can say that there are chances of a drop but not so steep. I think it should stop near $9500 area where it used to be strong for few days before from where it rebounded.

I agree with you I am also waiting a breakout to the down side. But the target is not 8k or below. My target is 8800-9000 USD. And the timing is not in few days. By the way the big break out which will move BTC maybe 3k or more is probably will accrue in September.

if you are NOT a trader then you have no understanding of short term movements of bitcoin and you don't get to "predict" them either

"every analyst" was also seeing these descending wedges when price wasn't going up and was stuck in $3k range and they were "all" predicting price to fall down to $1000. the rest is history

sentiment is confused and undecided. it is neither positive nor negative.

you are a couple of weeks late. we had the huge run ups and the hard break downs already!

well you have no reason to be right or wrong. as you discredited your whole statement in your first line, you are not a trader you just made a random guess and guesses aren't either right nor wrong. they just guesses.

We don't need to be too much excitement about what we feel when we saw the market at red. It all just because of the volatility and the market aren't in our control and to think that all be in the upclimbing scenarios.

We're getting back into $10,157 at this time and it has to say that dumps meant nothing but just an ordinary market trend.

cool . your better than other traders out there that dont know how to read the charts but it is really hard to predict a crypto . if you can only use your talent for your own good ( e.g doing trades ) i think you are now a rich man but i still like the idea of sharing your predcitions to others freely wihout any asking for returns like others does   . thanks for the warning tho  .  i think im going to prepare now asap   ...

There is going to be a drop below $10,000 and that if the 100 moving average on a daily chart that has moved above $10,000 is broken and we have a closing candlestick below it.
The road to $8000 has met with strong rejection around $9100 for three times now and let see what happens this time around.

No extensions?


But as someone knowing that it might "crash" to $8,000, how would you take it? It should be as an opportunity in my opinion. By the next halving, we might never see Bitcoin trading below $10,000 again.

The bear sideways did happen after 48hrs had passed. Just small bears. But it did not touched down to $8k. And there is also a huge bear in my indicator which i highly unsure when will gonna happen since we cant really predict "when" is that time. If it doesnt break the resistance to go up again, then expect some bears will enter the crypto market again. Perhaps this is not new, something like this will eventually happen. If you are a margin trader, you can take that as an opportunity to enter a short trades.

Leveraged trades as a whole at the moment are pretty risky especially if you're setting tight stops as there's been no shortage of stop hunts recently for both longs and shorts from a glance at the 4H and 1D charts. Best move might just be to sit this out because things just seem so coiled up right now and another candle like the one two days ago could easily stop out your short(s) and reverse in the other direction once more. It does seem like the 100DMA is acting as some sort of support at the moment though, and the daily MACD looks somewhat close to flipping green as well.

Sentiment is a factor to watch but not something I would trade off directly because people are so often wrong, they move as a herd.   Do I always want to follow the herd even when they going full lemmings over a cliff, not really.

Going short would be reasonable if you are prepared to pay the price and take the risk but also be sensible to place a stop loss.   If we go up, it'll break up and the market often tries to force out stops before it moves in its true direction.
    So for example we get some news perhaps or it could be nothing known exactly just a higher patch of volume and maybe we spike up but the price meets hard resistance and sells.   Then we get the true sell from that resistance, all the leveraged buys who had hoped for a move up find the price selling here is time to cash out (maybe a trailing stop loss) and together with the true bears we actually move downwards properly and now with enough run up and participation to break the previous support that had contained us.
    The failed up move can be very bearish, sadly it also is tricky to ride like a bucking bull and throws off alot of casual speculators.   I rarely find easy profits, wish it was easier but havent found that path yet.



Heres my view of the market on daily bars, big time period but I post it because its quite clear we have not moved much overall for a while.   We are confined between the bars of a bigger move previous.   The clearest indicator we have in common accepted by all would be the 50 day average.   Its not resistance as such, its a wind vane but I take notice when it lies overhead and appears to be a ceiling such as now.   Hence a bearish call is not so off but can I catch what the market throws when we idle back and forth like this.   Stop loss has to be 11k I guess, its not that cheap to bet when not sure.

I just took a huge dump .... was a huge drop with a splash at the end.... OP was right 

Baseless prediction. If I am convinced of a dump to happen within 48 hours, I'll try to trade it and go short. If you're just hodling (thus don't plan to sell anything) I don't see why you're so hyped up about a potential drop?

The thing with predictions is that you can always use the unpredictability of trading as excuse. In other words, you're pretty much backed up even when you're wrong because you can always point to that aspect of trading.

I think people are getting frustrated by the sideways price action and become more bearish as result of that. Sideways accumulation doesn't really have to have a bias towards a certain direction. It can just as easily spike up.

You seem to be not confident with your prediction although you have said that you know how to read charts. I've seen predictors that said the same thing but not many of them got the successful predictions.

We'll see if your accuracy is good in predicting and reading the charts.

For now i am on phase to hold my fiat and hold little amount of bitcoin, actually for now it is lowest that 0.1 BTC. Maybe because see a lot of people who speculate if bitcoin price will decreased, i will hold more and maybe prepare to buy some if bitcoin price move significant. I think when i read people speculate, i will make it as benchmark or maybe help me to analyze bitcoin price although my analyze skill still not very good.

Very possible. I'm not sure whether we stay sideways for the next month or plunge down to the lower $8,000s but the chart doesn't look ready for bullish continuation yet. And longs are still mighty high. It looks like we need to shake the trees a bit.


Most analysts are bullish right now, but a few of the best are not. Check out the threads of xxxx123abcxxxx and dmwardjr.

He pertains into those patters been said by other analyst or traders which tends to break upside on a bull market.You had just misunderstand yet OP's view is pertaining to go into the opposite way basing on his own technical or chart read ups. 

We cant really completely oppose someones speculation because all of us are speculators into this very speculative market.Heading back to 8k price mark is possible anytime thats why as a trader we should know how to put up our stop losses if we do make shorts.

Everything is possible, we could have a flash crash, a rapid decline to $8k is really possible. Negative news, FUD can be one reason to bring the price to its knees. And that is why we see this market as very volatile and unstable.

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A lot of similar threads last month if I'm not mistaken. They said that the price can go down to $8k, but so far we haven't seen the price going that deep after reaching as high as $13k. It's better to be prepared. And wise investors are only waiting for this kind of opportunity to bag more coins. So we will see if this scenario will happen.

I cannot find the one thread that seems to be similar to this.
Same with the 8k range.
Now I am in a worry and also with a smile.
That could be again another entry point for some buyers and also me. It is a risk though to sell. There is no safety pin.  
I guess for now we could just wait.
This kind of prediction had been also going on outside this forum. Will be reading deeper.

Some technical indicator have mentioned bearish while majority of the technical indications were still bullish. During the previous bull run too we experienced the price reach the low bottom as a cyclic process before moving high. There is more predictions for the price reach a 50% drop which is $5000. By the same time there is more expectations for the next few weeks for the price of bitcoin to cross $14000.